China’s Qudian Inc., a provider of online consumer credit products backed by Ant Financial, has completed a listing on the New York Stock Exchange, raising approximately US$900 million.
Chinese P2P Lending Platform PPdai.com Plans $350M IPO In US
Chinese peer-to-peer lending platform PPdai.com will seek an initial public offering on the New York Stock Exchange, the company said in a filing, marking the latest Chinese financial technology company to go public. PPdai.com is currently values as a unicorn on China Money Network’s China Unicorn List with a US$2 billion valuation.
Chinese Biopharma Firm Zai Lab Completes $150M US Listing, Shares Jump 55%
Chinese biopharmaceutical company Zai Lab Ltd., backed by Chinese venture capital firms including Advantech, OrbiMed Asia Partners and Qiming Venture Partners, has completed an initial public offering on the NASDAQ in New York, raising approximately US$150 million in total.
Berry Genomics Completes $619M Back-Door Listing In Shenzhen
Berry Genomics, a Chinese prenatal genetic testing and diagnostics company backed by Qiming Venture Partners and Legend Capital, has completed a reverse merger with Shenzhen-listed Chengdu Tianxing Instrument & Meter in a deal that valued Berry at RMB4.3 billion (US$619 million).
Chinese Bike Rental Firm Youon Completes $87M Shanghai IPO
Chinese bike rental company Youon Bike, backed by Ant Financial and Shenzhen Capital Group, has completed an initial public offering on the Shanghai Stock Exchange, raising RMB581 million (US$87 million). It is the first stock market listing by any of the dozens of bike sharing companies in China.
Venture-Backed Biopharmaceutical Firm Zai Lab Plans $115M US IPO
Shanghai-based biopharmaceutical company Zai Lab, founded by Samantha Du, a former managing director at Sequoia Capital, has filed to raise up to US$115 million in an initial public offering on the NASDAQ.
Fortune Capital-Backed Incubator And Media Firm Iheima Completes Shenzhen IPO
Beijing-based start-up incubator Iheima, backed by Fortune Capital, has completed an initial public offering on the ChiNext, a NASDAQ-style board of the Shenzhen Stock Exchange, to raise a total of RMB182 million (US$27 million). As the first IPO of an incubator, accelerator and start-up media platform in China, Iheima issued 17 million new shares at the price of RMB10.75 (US$1.61) apiece, according to an IPO prospectus. The company is valued at RMB1 billion (US$140 million), based on its highest trading …
Venture-Backed BGI Genomics Completes $250M IPO On Shenzhen ChiNext
Chinese gene sequencing giant BGI Genomics Co., Ltd. today completed an initial public offering on the ChiNext board in Shenzhen, raising around RMB1.7 billion (US$250 million). The successful IPO comes after the company previously failed to list in the U.S. and Hong Kong, as well as an unsuccessful bit to achieve an A-share float via a reverse merger.
Li Ka-Shing Supported Hardware Developer Razer Inc Plans Hong Kong IPO
Razer Inc., a U.S.-based computer hardware developer for the gaming industry backed by Hong Kong tycoon Li Ka-Shing, is planning to pursue an initial public offering on the Hong Kong Stock Exchange.
Alibaba-Backed Logistics Firm Best Inc To IPO In U.S.
Best Inc., the Alibaba-backed Hangzhou-based logistics company also known as Best Logistics Technology Co., has filed for an initial public offering on either the New York Stock Exchange or the Nasdaq Global Market, aiming to raise US$750 million.
Matrix-Backed HR Solutions Firm Career International IPOs On ChiNext
Career International, a Beijing-based talent solutions provider backed by Matrix Partners China, has completed a listing on the Shenzhen Stock Exchange’s NASDAQ-style ChiNext Board, paving the way for a successful exit by the venture firm ten years after investing in the company.
Venture-Backed Jiuxian.Com To Delist From New Third Board, Eyes A-Share Listing
Jiuxian.com, a Beijing-based alcoholic beverage e-commerce company backed by venture firms, said it plans to delist from China’s New Third Board and instead prepare for a listing on one of China’s main boards, according to a securities filing.
Alibaba Nets $1 Billion Via Momo Share Sale In Ultra-Lucrative Exit
Chinese e-commerce giant Alibaba Group has netted at least US$1 billion in proceeds by selling most of its shares of location-based social networking mobile app firm Momo Inc. The divestment locks in a net gain of at least 50-times the e-commerce company’s initial investment.
Chinese Bike Sharing Company Youon Bike Makes Second Bid for Shanghai IPO
Jiangsu province-based bike sharing company Youon Bike is making another try for an initial public offering on the Shanghai Stock Exchange, seeking to raise RMB598 million (US$86 million) by issuing 24 million shares. An earlier application was rejected in 2015. Founded in 2010, Youon Bike received an undisclosed amount of money from Ant Financial, the financial services affiliate of Alibaba Group Holding Ltd., and IDG Capital. However, Youon plans to end the funding, according to its IPO prospectus. The company …
Alibaba Acquires Chinese Online Ticketing Platform Damai.Cn
Alibaba Group Holding Ltd’s cultural and entertainment group has fully acquired Damai.cn, a Bejing-based online ticketing platform, according to a company announcement.
Legend-Backed Tanyuan Tech Completes $59M Shanghai IPO
Tanyuan Tech, a Jiangsu province-based high-tech new material maker backed by Chinese investment firm Legend Capital and GSR Ventures, has completed an initial public offering on the Shanghai Stock Exchange today.
Qiming, GGV-Backed CSD Water Completes $36M Shanghai Listing
Beijing-based water treatment company CSD Water Services, backed by Qiming Venture Partners and GGV Capital, has completed an initial public offering on the Shanghai Stock Exchange today.
Chinese Installment Payment Platform Fenqile Plans $600M US IPO
Shenzhen-based installment payment e-commerce platform Fenqile aims to raise around US$600 million via an initial public offering on a U.S. stock exchange later this year, according to media reports citing insiders.
IDG-Backed Chinese Robot Vacuum Maker ECOVACS Files For Shanghai IPO
Chinese robot vacuum maker ECOVACS Robotics Co., Ltd., backed by IDG Capital, has filed with the country’s securities regulator to list on the Shanghai Stock Exchange.
Baidu Acquires Raven Tech, AI Alumni of Microsoft Venture Accelerator
Baidu Inc. has announced plans to acquire Beijing-based Raven Tech, a Chinese smart home control and smart hardware start-up utilizing artificial intelligence, big data and next generation operating systems, Chinese media reported.
Chinese Neighborhood Store Huimin Acquires Sequoia-Backed Beequick
Beijing-based neighborhood store start-up Huimin has acquired control of O2O (online-to-offline) peer Beequick, as a lack of new funding for these type of start-ups is forcing industry players to survive through mergers and acquisitions.
Fortune Capital-Backed Furniture Maker Approved For ChiNext Listing
HomeKoo, a Chinese customized furniture manufacturer backed by Shenzhen Fortune Capital, has obtained regulatory approval to list on ChiNext, the NASDAQ-style bourse of the Shenzhen Stock Exchange.
Dozens Leave China’s New Third Board Hurt By Poor Liquidity
Fifty-six companies left China’s New Third Board, an over-the-counter market designed for China’s small-to-medium size enterprises, in 2016 as continued low liquidity hurt listed companies’ abilities to raise capital and fuel their growth.
Hubei Guochuang Hi-Tech Material To Acquire Online Realtor QFang
Shenzhen-listed asphalt manufacturer Hubei Guochuang Hi-tech Material Co., Ltd. has agreed to acquire Shenzhen Yunfang Internet Technology Co., an operator of online real estate leasing and agency platform Qfang.com, for RMB380 million (US$54 million), according to an announcement.
Venture-Backed Gaming Firm G-bits Completes A-Share IPO
G-bits Network Technology Co. Ltd., a Chinese online gaming company backed by IDG Capital Partners and Fortune Capital, has completed an initial public offering on the Shanghai Stock Exchange, raising RMB961 million (US$138 million).
Venture-Backed Berry Genomics Set To Complete $619M Back-Door Listing
Berry Genomics, a Chinese prenatal genetic testing and diagnostics company backed by Qiming Venture Partners and Legend Capital, is moving ahead toward an A-share listing via a reverse merger with Shenzhen-listed Chengdu Tianxing Instrument & Meter.
Venture-Backed Meitu Completes $604M Hong Kong IPO
Meitu Inc., a photo retouch app developer backed by Qiming Venture Parnters, IDG Capital Partners and others, has completed offering 574 million shares priced at HK$8.50 apiece to raise net proceeds of approximately HK$4.688 billion (US$604 million).
JAFCO Asia, WI Harper To Exit From Suzhou Medical System
Suzhou Medical System Co., Ltd., a Chinese hospital IT operator backed by WI Harper Group and JAFCO Asia, has completed an initial public offering in the Shanghai Stock Exchange last week.
New Oriental-Backed Education Firm RoboRobo Sold To Chinese Printing Company
Shenzhen-listed Beijing Shengtong Printing Co., Ltd. has agreed to acquire Chinese educational robot school operator RoboRobo Education, backed by New Oriental Education & Technology Group Inc. and Zhen Fund, for RMB430 million (US$62 million).
Chinese Photo Retouch App Meitu To Raise $800M In Hong Kong IPO
Meitu Inc., a photo retouch app developer backed by Qiming Venture Parnters, IDG Capital Partners and others, has moved to the final stage of its planned Hong Kong IPO, with roadshows scheduled for next week and official listings to follow.
Banyan Capital-Backed Chinese Wearables Maker Transtek Completes Domestic IPO
Guangdong Transtek Medical Electronics Co., Ltd., a wearable devices maker and mobile healthcare firm backed by Banyan Capital, has completed an in initial public offering on the Shenzhen Stock Exchange.